Dollar-yen exchange rate intraday trend.
Source: Yonhap Infomax.
(Seoul = Yonhap Infomax) Reporter Seongjin Kim = The dollar-yen exchange rate even exceeded the 158 yen level on the 26th (local time). This is the first time this has happened in 34 years since 1990.
The dollar-yen price showed an upward trend starting from Asian afternoon trading, breaking through 156 yen and 157 yen in turn, and then breaking through to 158 yen after the New York stock market closed.
The dollar-yen rose to 158.419 yen at 4:36 p.m. in New York, then slightly narrowed the increase.
The fact that the Bank of Japan (BOJ) is sticking to an easing monetary policy while the U.S. Federal Reserve’s (Fed) interest rate cut is being postponed due to persistent inflation is a factor that is deepening the yen’s weakness.
BOJ Governor Kazuo Ueda previously reiterated the policy of maintaining monetary easing conditions for the time being at a press conference held in the second half of Asian trading and made remarks tolerating the weakening yen.
He said, “The purpose of monetary policy is not to directly control the exchange rate,” and “the possibility of the yen being weak for a long time may not be zero.”
(end)
This article was published at 05:47 on the Infomax financial information terminal.
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